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18th May 2016 - Important Current Affairs updates

International Affairs

  • Today (18th May) is International Museum Day.
    • Theme of the year 2016 : Museums and Cultural Landscapes
  • The Republic of Panama has officially signed a deal to comply with standards in exchanging tax information as prescribed by global body Organisation for Economic Co-operation and Development (OECD)
    • Note : This comes a month after the 'Panama Papers' data leak which revealed records of over 200,000 offshore companies. 
    • However, the new membership does not take effect until 2018.
  • The United States has eased sanctions on Myanmar to support political reforms while expressing concern over its alleged human rights violations. 
    • Myanmar's state-owned banks were removed from the US blacklist and sanctions against state-owned timber and mining companies were lifted. 
    • The USA also indefinitely extended a sanctions exemption that allows financing shipments coming from Myanmar.
  • The US Senate has passed a bill that will allow the families of 9/11 victims to file lawsuits against Saudi Arabia
    • This comes after Saudi reportedly threatened to withdraw its investments worth $750 billion in the US if the bill became a law.
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18th May 2016 - Important Current Affairs updates

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